Exclusive vs independent - Study guides, Class notes & Summaries

Life & Health Insurance Exam Already Graded A Insurance ️transfer of risk Speculative risk ️has a possibility of both loss and gain Pure risk ️only has a possibility of loss (no gain) Exposure ️risks for which an insurance company would be liable expressed in units Peril ️cause of a loss Hazard ️an increase in the chance of loss Moral hazard ️arise from people's character (faking a loss) Morale hazard ️state of mind or careless attitude (accidentally leaving do...

The Tennessee Human Rights Commission (THRC) enforces fair housing laws in the state. Exemptions to Tennesse's Human Rights Act are: 1. Rental of one housing unit when the building contains no more than two independent units, if the owner or a family member lives in one of the units. 2. Rental of a room or rooming unit in a housing accommodation that shares a common bath (and only in regards to sex as a protected class). 3. Sale, rental, or preference of a dwelling owned, operated, or ...

FMS 100 Final Exam Questions With Answers Latest Updated 2024/2025 | Graded A+. Analog vs. Digital - ANSWER--*Analog*: Film is an analog medium in which the camera creates an image by recording through a camera lens the original light given off by the subject, and stores this image on a roll of negative film stock. We call it analog because the image is analogous, or proportional, to the input. Requires: camera, processor, and a projector. -*Digital*: Involves an electronic process that cre...

Types of Agencies - Answer-1. Standard lines P&C 2. Personal Lines only 3. Commercial Lines only 4. Non-Standard Auto 5. Life & Health Agency 6. Combination of the above Banks vs. Agencies - Answer-1. How much will the agency culture change if your agency is acquired by a bank? 2. Banks are governed by very specific federal and state laws that require them to function in a certain manner. 3. Banks tend to be more formal (in terms of rules, dress code, etc.) than agencies. 4. When acqu...

Insurance - Answer Transfer of risk form a person or business to an insurer Loss - Answer uncertainty/possibility of a loss Speculative vs pure risk - Answer Speculative - chance of loss or gain Pure - only chance of loss Exposure - Answer risks for which the insurance company would be liable Peril - Answer cause of loss Direct vs Indirect loss - Answer Direct - physical loss Indirect - consequence of the direct loss (having to pay for a hotel if house burns down) Hazard (3 t...

1.Bumper stickers such as "Proud Parent of an Honor Student" and "Warning: This Driver Convicted of DUI" are best described as being ________. positive sanctions master statuses negative sanctions status symbols 2.Sociologically speaking, all men under the age of 30 are considered a /an . Likewise, several strangers walking along the same stretch of beach in Santa Cruz at the same time are considered a /an . out group / clique aggregate / reference group in group / out group cat...

BYU PDBio 120 Final Exam Review Questions and answers, rated A+ Independent probability - -Principle that probability of one event occurring has no effect on the probability of the other. -boy v girl Dependent Probability - -Two events are dependent if the outcome or occurrence of the first affects the outcome or occurrence of the second so that the probability is changed. -everytime you try, the probability changes Exclusive probability - -One event happening makes the other event im...

Analog vs. Digital - ANSWER--*Analog*: Film is an analog medium in which the camera creates an image by recording through a camera lens the original light given off by the subject, and stores this image on a roll of negative film stock. We call it analog because the image is analogous, or proportional, to the input. Requires: camera, processor, and a projector. -*Digital*: Involves an electronic process that creates its images through a numbered system of pixels. Digital images do not have...

How do intermediaries create value? - Transactional Function: buying/selling/risk taking Logistical Function: storing/assorting (mix of products)/sorting(lots of a single product)/bulk breaking(one large item broken down)/transporting Facilitating: financing/grading/marketing info and research We use intermediaries to: - make a product or service available by consumers or industrial use be more efficient: reduce # of contacts allow firms to focus on core competencies reduce financi...

RM 430 Exam 1 Study Guide Solutions Perfectly competitive market characteristics - Ans:-1. Large numbers of buyers and sellers 2. No barriers to entry and exit 3. Homogenous product 4. Equal info available to buyers and sellers HHI - Ans:-HHI<1500 - Not concentrated 1500<HHI<2500 - Moderately concentrated HHI>2500 - Highly concentrated Legitimate barriers to entry - Ans:-Brand awareness Distribution system (exclusive agent or independent agent) Sticky consumers Economies o...